state bank of india to sell 1% stake in nse 50 lakh shares invites bids

SBI to sell 1% stake in NSE, floated bids for 5 million stock

SBI is planning to sell its 1.01 percent stake in NSE.

SBI to sell 1% stake in NSE

State Bank of India (SBI) is planning to sell its 1.01 percent stake in NSE as part of the capital raising efforts. SBI has given information about this on Friday. SBI holds a 5.19 percent stake in NSE. The bank said in a public notice that SBI is one of the shareholders of NSE India Limited and plans to sell 1.0101 percent stake i.e. 5 million shares through a competitive bidding process.

The bank said that a minimum of 10 lakh shares can be bid in the prescribed format.

Invitation bids by 15 January
The last date for bidding is 15 January. SBI had earlier sold a five percent stake of NSE in 2016 to Veracity Investments of Mauritius for Rs 911 crore. The valuation of NSE was Rs 18,200 crore. After this deal, SBI's stake in NSE came down to 5.19 percent. SBI Capital, a subsidiary of SBI, holds a 4.33 percent stake in NSE.

The NSE's valuation was around Rs 35,000 crore last month.